Piedmont Office Realty Trust, Inc. (PDM) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. trimmed its position in shares of Piedmont Office Realty Trust, Inc. (NYSE:PDM) by 3.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 286,345 shares of the real estate investment trust’s stock after selling 11,408 shares during the period. Principal Financial Group Inc. owned 0.20% of Piedmont Office Realty Trust worth $5,772,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. SG Americas Securities LLC grew its holdings in Piedmont Office Realty Trust by 4.7% during the second quarter. SG Americas Securities LLC now owns 8,060 shares of the real estate investment trust’s stock valued at $170,000 after purchasing an additional 364 shares during the period. PNC Financial Services Group Inc. grew its holdings in Piedmont Office Realty Trust by 19.4% during the second quarter. PNC Financial Services Group Inc. now owns 8,654 shares of the real estate investment trust’s stock valued at $182,000 after purchasing an additional 1,404 shares during the period. Financial Counselors Inc. grew its holdings in Piedmont Office Realty Trust by 0.5% during the second quarter. Financial Counselors Inc. now owns 10,454 shares of the real estate investment trust’s stock valued at $220,000 after purchasing an additional 47 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Piedmont Office Realty Trust by 6.9% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,401 shares of the real estate investment trust’s stock valued at $240,000 after purchasing an additional 737 shares during the period. Finally, GAM Holding AG grew its holdings in Piedmont Office Realty Trust by 3.7% during the second quarter. GAM Holding AG now owns 12,292 shares of the real estate investment trust’s stock valued at $259,000 after purchasing an additional 433 shares during the period. 83.35% of the stock is owned by institutional investors and hedge funds.

Piedmont Office Realty Trust, Inc. (NYSE:PDM) traded up $0.06 during trading on Friday, hitting $19.96. The stock had a trading volume of 730,994 shares, compared to its average volume of 709,080. Piedmont Office Realty Trust, Inc. has a 52-week low of $19.10 and a 52-week high of $23.08. The company has a quick ratio of 2.15, a current ratio of 2.15 and a debt-to-equity ratio of 0.78. The company has a market capitalization of $2,871.56, a price-to-earnings ratio of 11.24, a P/E/G ratio of 2.84 and a beta of 0.63.

Piedmont Office Realty Trust (NYSE:PDM) last posted its quarterly earnings results on Wednesday, November 1st. The real estate investment trust reported $0.42 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.42. Piedmont Office Realty Trust had a return on equity of 4.06% and a net margin of 33.72%. The firm had revenue of $137.59 million during the quarter, compared to analyst estimates of $140.39 million. During the same period last year, the company earned $0.41 earnings per share. research analysts forecast that Piedmont Office Realty Trust, Inc. will post 1.75 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 4th. Stockholders of record on Friday, November 24th will be issued a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 4.21%. The ex-dividend date of this dividend is Wednesday, November 22nd. Piedmont Office Realty Trust’s payout ratio is currently 62.69%.

PDM has been the subject of several research reports. Robert W. Baird raised Piedmont Office Realty Trust from a “neutral” rating to an “outperform” rating and increased their price objective for the company from $23.00 to $24.00 in a report on Monday, August 28th. ValuEngine lowered Piedmont Office Realty Trust from a “buy” rating to a “hold” rating in a report on Wednesday, September 13th. Stifel Nicolaus reissued a “hold” rating and set a $21.00 price objective on shares of Piedmont Office Realty Trust in a report on Thursday, September 21st. Finally, Zacks Investment Research raised Piedmont Office Realty Trust from a “hold” rating to a “buy” rating and set a $23.00 price objective for the company in a report on Wednesday, October 11th. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and two have issued a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $22.33.

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About Piedmont Office Realty Trust

Piedmont Office Realty Trust, Inc is an integrated self-managed real estate investment trust (REIT). The Company’s business consists primarily of owning, managing, operating, leasing, acquiring, developing, investing in, and disposing of office real estate assets. As of December 31, 2016, the Company owned and operated 65 in-service office properties, one redevelopment asset, two development assets and one office building through an unconsolidated joint venture.

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Institutional Ownership by Quarter for Piedmont Office Realty Trust (NYSE:PDM)

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